David Eric Mainzer

Amerindo's investment objective is long-term capital appreciation. This investment approach focuses on those sectors of emerging growth technology that they believe will be responsible for producing the next major wave of economic growth. The investment team continually searches for relatively new public companies in their sectors with substantial growth potential. Portfolios are constructed with concentrated initial positions in a limited number of stocks. Amerindo's investment process begins by determining the fastest growing end-user markets in technology and science with the greatest potential, then identifying the leading companies in those markets leveraging off the work of the best venture capitalists, investment bankers and industry experts. The firm then determines if the management, technology and market are able to produce a successful company dominating its industry that will give rise to a sustainable period of growth. Amerindo re-invests maturing positions and starts the process again. Amerindo may sell when a significant change in the company's vision takes place, management missteps or there is a negative major market or technology shift. It has always been Amerindo's strategy to invest in young technology companies during their most dynamic growth phase. Typically after a 3 to 5 year period, they believe a successful emerging technology company will see its early explosive growth rates begin to moderate. At this juncture Amerindo would be looking into other faster growing candidates to re-deploy its investment funds.